The home service market generates more than $500 billion in direct spending in the United States every year. That’s a huge number and the reason why this market is such a draw for business owners. Home service business ideas range from residential cleaning to niche-market underground plumbing, each with different ways to measure profitable opportunities.
It’s more difficult to establish a niche element of your business when there is a low barrier to entry, such as minimal or no education required. This is what makes the trades element of home service businesses shine: There is a licensing requirement, and there are niche markets. That’s where you’ll find us — Accurate Leak and Line.
Trades Dominate Home Service Business Opportunities
Accurate Leak and Line is a trades home service business with a niche: underground plumbing diagnostics and repair. According to Valve+Meter, plumbing tops the list of home service businesses considered most profitable. Their research estimates the industry is worth $130 billion in the U.S., not surprising for an essential service trade.
What’s interesting is that, in the same study, Valve+Meter ranked plumbers, electricians, and HVAC as the top three most profitable home services businesses, even though the home remodeling market was more than those three combined. How could that be? When a business has a lower barrier to entry, more people are in it. With the noted trades, there’s no escaping the certification and licensing required. Smaller market value, but significantly fewer people competing for the same dollars.
We know from 20 years of experience that specialized expertise provides the opportunity to run a profitable business, and finding a niche within the industry only elevates you from the competition.
Niche Market Benefits for Home Service Businesses
Accurate Leak and Line is in the underground diagnostic plumbing and repair business. We are a niche market opportunity, employing master plumbers. Specialist skills are held in higher regard when compared to being a generalist, and that provides you with a unique revenue-generating pathway. Other niche market benefits include:
Targeted marketing strategies: You become the most logical choice for a client needing a specialized service. This reduces marketing costs and provides a more tailored focus to your customers.
Easy referrals: Specialized services are easier to refer because there is limited competition in the marketplace.
Fewer clients, higher fees: When you have a niche market, your rates can reflect the specialized training required to provide the service.
According to Shopify, establishing a niche market business lets you be more effective in attracting customers than trying to be everything to everybody, which happens with broader business approaches. In plumbing, for example, you can further develop a niche to put more distance between you and the competition, and that’s exactly what Accurate Leak and Line offers with franchise ownership.
The best home service business to start is one where there’s a sustainable need, like a trade industry and a niche market opportunity.
Plumbing Niche: Accurate Leak and Line
As an Accurate Leak and Line franchise business owner, you operate an underground plumbing diagnosis and repair service. You’ll provide residential and commercial services, including water and sewer leak repair and replacement. We utilize traditional excavation and repair solutions and non-destructive CIPP trenchless pipe repair. These are cost-efficient alternatives to complete water or sewer system replacement.
There are three ways to become a franchise owner:
You’re a plumber already in business. If you want to offer something more with your current plumbing business, or if you want to do something entirely different in the industry, we offer a conversion franchise option for current plumbing business owners.
You’re tired of nights and weekends. Wouldn’t it be great to work a 9-5 and spend more free time doing what you love to do? An Accurate Leak and Line franchise allows you to work regular weekday hours.
You’re a plumber looking at entrepreneurship. With our business model, you can transition your plumbing expertise into our specialized service, with all the training to launch your own business successfully.
You’re an entrepreneur. You don’t have to be a licensed plumber to own an Accurate Leak and Line franchise. As an entrepreneur, you’ll work on growing your business and hire a licensed master plumber to perform the specialized work.
Use Innovation to Your Advantage
A blog on plumbing industry trends by The Farnsworth Group discussed how innovation is making plumbing less invasive. The underground plumbing sector of this trade capitalizes on smart technology, and that’s another great asset of being a business owner with Accurate Leak and Line.
New technology makes new ideas possible. Good business sense makes franchises sustainable. We have combined both in our franchise model.
Contact Accurate Leak and Line
Reach out to us for more on the Accurate Leak and Line franchise and how it can be a profitable venture for your new business or for expanding your current plumbing service.
